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This document outlines the eligibility and requirements for individuals serving as guarantors for electric service applicants at Duke Energy Carolinas. It details the necessary information and conditions
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How to fill out residential guarantor requirements

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How to fill out Residential Guarantor Requirements

01
Obtain the Residential Guarantor Requirements form from your landlord or property management.
02
Review the requirements listed on the form carefully.
03
Gather necessary documentation, such as proof of income, credit report, and identification.
04
Fill out your personal information accurately, including full name, contact details, and relationship to the tenant.
05
Complete the financial information section, detailing your income and assets.
06
Sign and date the form to affirm that the information provided is true.
07
Submit the completed form along with the required documentation to the landlord or property management.

Who needs Residential Guarantor Requirements?

01
Anyone who is renting a residential property and does not meet the financial or credit requirements on their own may need a guarantor.
02
This often includes students, individuals with unstable employment, or those with poor credit history.
03
A guarantor is typically a family member or close friend willing to take on the financial responsibility for the lease.
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What does a guarantor need to provide? Guarantors may need to give information to a landlord or letting agency to show they can take on the responsibility of being a guarantor: Proof of identity, like a passport or driving licence. There will be credit checks that they need to pass.
Almost anyone can be a guarantor. It's often a parent or spouse (as long as you have separate bank accounts), but sometimes a friend or relative. However, you should only be a guarantor for someone you trust and are willing and able to cover the repayments for.
Landlords will usually want a guarantor who lives in the UK, as it's easier for them to take legal action against a UK resident if they need to. This might present a problem for you if you're coming from abroad - for example if you're an international student.
A credit check is done on you if you agree to be a guarantor. This is added to your credit file. Any defaults on the account or agreement are also added. Find out more about how debt affects a credit file.
Things for your guarantor to know Guarantors must be over 18, have a good credit history and have a certain amount of savings or income.
A guarantor is someone who agrees to pay your rent if you don't pay it, for example a parent or close relative. If you don't pay your landlord what you owe them, they can ask your guarantor to pay instead. If your guarantor doesn't pay, your landlord can take them to court.

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Residential Guarantor Requirements refer to the criteria and documentation necessary for a guarantor to support a tenant's rental application, ensuring the landlord that the lease will be honored.
Typically, tenants who do not meet certain income or credit requirements are required to provide a guarantor, who will then file the Residential Guarantor Requirements.
To fill out Residential Guarantor Requirements, the guarantor must provide personal information, financial details, and sign the necessary documents indicating their commitment to covering the obligations of the tenant.
The purpose of Residential Guarantor Requirements is to mitigate risk for landlords by ensuring that a financially reliable individual is available to cover the rental obligations if the tenant fails to do so.
The information that must be reported includes the guarantor's name, contact information, income details, employment verification, credit history, and any additional documentation requested by the landlord.
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